Supply Chain Management
What are "upstream" and "downstream" ?
-Upstream: Early stages of production.
-Downstream: Late stages of production.
What happens inside and outside of the company ?
Inside:
1) Identifying needs.
2) Recquisition (creating a purvhase request).
3) Approval (getting permission to buy).
4) Purchase order (creating a formal order).
Outside:
1) Supplier Selection (choosing a vendor).
2) Requesting a price quote.
3) Contract negotiation (agreeing on terms and prices).
4) Order placement.
5) Receiving and inspection
What is Supply Chain ?
Supply Chain is a network of organizations, people and activities involved in the production and delivery of a product or service.
What does Supply Chain ensure ?
1) Products are delivered on time.
2) Products meet quality standards.
3) Products are available when customers need them.
What is a flow in SC ?
A flow refers to the movement of something from one place to another.
What are the types of flow used in SC ?
It could be data, information or raw materials.